Blogging Employee Benefits

August 15, 2006

A Brief Word on Comments

Filed under: P&B Blog — Fuguerre @ 9:02 pm

Is there somewhere under the new PPA, that it is now possible for non-spouse beneficiaries named in a defined contribution plan to roll over their inheritance into their own beneficiary IRA to take advantage of the lifetime withdrawal rather than receiving a lump sum?

P&B Weblog comment

I think you’re looking for the new IRC §402(c)(11) added by PPA §829. As explained in section VIII.C.9 of JCX-38-06. Although if so, don’t run out Thursday afternoon after the President signs the legislation into law and try it out right away: as prescribed by PPA §829(b), only distributions after this year can use the new rule.

But now if you’ll pardon me for using this as an opportunity for a digression about one aspect of my blogging, let me first very quickly point back over to my weblog’s disclaimer: please never regard anything on this weblog, whether in the comment exchanges or in my postings or in the supplemental files I’ve started playing with, as anything other than casual banter. Even in something as simple as the applicability of the provision cited above or a finger pointing over to the effective date, never take anything presented here as legal counsel or any other professional advice. I know I’m probably being rather hypersensitive to persist in pointing that out about the most innocuous little mind meanderings I get into here, but I do have my reasons for pretty much having abandoned any serious practice, and I don’t particularly care to return. So although I’m more than comfortable feeling like I’m only talking to myself here, I tend to get a little cautious about any actual exchange.

And then one additional word, while I’m taking the opportunity. On any other comments that have been passed through or that might come in past this (other than the stupid spam comments, which multiply the curses on themselves with every silly attempt): I’m not ignoring any of the real traffic. I simply don’t always have something worth saying in response.

Anyway, thanks for stopping by. And good luck, if PPA §829 was what you were seeking.

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